Law firm Howard Kennedy has advised new client Arthur Online Limited, a property management software firm, on its first round of external funding, which raised over GBP1 million via equity subscriptions.
Founded and developed by property managers for property managers, Arthur (www.arthuronline.co.uk) provides a ‘one-stop-shop’, cloud-based, end-to-end property management solution which simplifies the process of property management by allowing a group of interconnected stakeholders to connect and share through a platform from anywhere in the world. Arthur was established in 2014 and has experienced huge success in the UK and internationally. It is currently used to manage over 50,000 units across 27 different countries.
The fundraising was a huge success and was oversubscribed, paving the way for a significant investment into the business, allowing it to scale up its operations. The investment took advantage of the company’s SEIS and EIS qualifying status.
Mark Jones, Chairman of Arthur, says: “I have watched Arthur’s development since its inception and have been deeply impressed with the firm’s use of innovative technology, to build a ground-breaking software platform for property managers. Arthur’s potential is huge. It is a highly scalable business, featuring a technology platform that can be used by property managers across a range of sectors, from residential lettings to social housing and student accommodation.
“From 2016 to 2017, Arthur’s income from paying property managers increased by 290 per cent. The forecast growth and expansion of Arthur in the UK and internationally will create great returns for our shareholders over the next two to three years.”
The Howard Kennedy team was led by relationship partner and Head of Corporate Ashley Reeback with Associate Sian Dewing leading on all aspects of the transaction.
Howard Kennedy’s Sian Dewing, says: “Arthur Online Limited has great potential to be a disruptive technology in the property management sector, as shown by the level of interest from investors, and we are delighted to have been able to help the Arthur team into the next phase of the company’s growth.”
